Cibc World Markets Corp Trims Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Posted by Defense World Staff on Feb 27th, 2023

Cibc World Markets Corp trimmed its position in Delta Air Lines, Inc. (NYSE:DAL – Get Rating) by 78.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,729 shares of the transportation company’s stock after selling 35,023 shares during the period. Cibc World Markets Corp’s holdings in Delta Air Lines were worth $273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantitative Investment Management LLC purchased a new stake in Delta Air Lines in the third quarter worth $918,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Delta Air Lines in the third quarter worth $4,048,000. IPG Investment Advisors LLC purchased a new stake in shares of Delta Air Lines in the third quarter worth $261,000. Cipher Capital LP purchased a new stake in shares of Delta Air Lines in the third quarter worth $1,355,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Delta Air Lines by 44.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 33,601 shares of the transportation company’s stock worth $943,000 after acquiring an additional 10,326 shares during the last quarter. 66.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DAL has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Delta Air Lines in a research note on Friday, December 16th. They issued a “buy” rating and a $40.00 target price on the stock. Barclays increased their target price on Delta Air Lines from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, February 9th. Raymond James increased their price objective on Delta Air Lines from $52.00 to $53.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 17th. Finally, Jefferies Financial Group increased their price objective on Delta Air Lines from $40.00 to $45.00 in a research report on Wednesday, January 11th. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $49.75.

Delta Air Lines Stock Down 0.5 %

NYSE DAL opened at $37.36 on Monday. The stock’s 50-day moving average price is $37.04 and its 200-day moving average price is $34.24. The company has a quick ratio of 0.45, a current ratio of 0.50 and a debt-to-equity ratio of 3.14. Delta Air Lines, Inc. has a 52 week low of $27.20 and a 52 week high of $46.27. The company has a market capitalization of $23.96 billion, a P/E ratio of 18.31 and a beta of 1.26.

Delta Air Lines (NYSE:DAL – Get Rating) last released its earnings results on Friday, January 13th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.17. Delta Air Lines had a return on equity of 45.69% and a net margin of 2.61%. The firm had revenue of $13.44 billion during the quarter, compared to analysts’ expectations of $13.03 billion. On average, equities research analysts predict that Delta Air Lines, Inc. will post 5.16 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Rahul D. Samant sold 13,124 shares of the stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $38.77, for a total transaction of $508,817.48. Following the completion of the sale, the executive vice president now owns 57,383 shares in the company, valued at $2,224,738.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rahul D. Samant sold 13,124 shares of the stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $38.77, for a total transaction of $508,817.48. Following the completion of the sale, the executive vice president now owns 57,383 shares in the company, valued at $2,224,738.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francis S. Blake bought 12,880 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The shares were acquired at an average price of $38.58 per share, with a total value of $496,910.40. Following the transaction, the director now directly owns 93,795 shares of the company’s stock, valued at approximately $3,618,611.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 34,134 shares of company stock worth $1,321,320. 0.84% of the stock is owned by corporate insiders.

Delta Air Lines Company Profile

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Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment provides jet fuel to the airline segment.